Nike Shares Hit 10-Year Low As Analyst Downgrades Into Earnings
Nike (NKE) shares hit a 10-year low at $35.22, down 43% in 2026 and 76% over five years. Bank of America downgraded NKE to Underperform with a $30 target, citing weak earnings and sales growth. S&P removed Nike from the S&P 100, triggering index fund rebalancing. China revenue fell 17%, and North America retail sell-through lags. BofA warns of an unsustainable dividend payout ratio. Earnings are due October 1.
How this was made
The 30-second read
Why it matters
The BofA downgrade and S&P 100 removal are fresh catalysts that could accelerate the stock's decline ahead of earnings.
Market read
Nike's price action influences large‑cap indices and retail sector sentiment, making the news highly relevant for traders.
What to watch
Nike's running category growth and possible margin improvements could support a quicker rebound.
Background
Nike has fallen 43% YTD 2026 and 76% over five years, with recent analyst downgrades and index removal.
Ticker impact
Bank of America downgraded Nike to Underperform with a $30 price target, triggering a fresh 10‑year low.
Further downside toward $30 target unless earnings surprise occurs.
Analyst cut EPS forecasts, warned of unsustainable dividend payout, and removed Nike from a major index, all new facts.
Market effects
Retail and apparel sector may see broader pressure as a bellwether mega‑cap faces index removal.
US large‑cap indices could dip as S&P 100 rebalancing forces sales.
Nike's global footprint means the downgrade could influence overseas consumer‑goods sentiment.
Counterpoint
Some analysts see a potential floor at $30 and view the sell‑off as overdone.
Key entities
- analystBank of America
Issued Underperform downgrade and $30 price target for Nike.
- index providerS&P Dow Jones Indices
Removed Nike from the S&P 100, triggering forced selling.
